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[Serious] I’ve read the complete Risk Assessment Report on Decentralized Finance Services. Here’s what you should know.
Every single DeFi Hacks that happened in 2022 - more than $2 Billion worth of crypto was stolen
Polychain-backed DFX Finance hacked for $7.5 million
Polychain-backed DFX Finance hacked for $7.5 million
DFX Finance ($DFX) | AMA with Circle on June 22 5PM EST | Doxxed Team | Trail of Bits + Haechi + Zellic Audit | 10m cap | Polychain & True Ventures backed |
DFX Finance: Next phase of growth comes from launching fractional fiat-backed stablecoins, dfxStables!
DFX: Decentralized FX for foreign stablecoin - 13m DFX in circulation - 6.5m market cap - Doxxed team - hyper-efficient AMM - Unique bonding curve - Minimized slippage - Optimized capital - Maximal utility!
Coinbase Insider trading details — a wallet started buying $400k worth of tokens about 24hrs before the Coinbase Asset Listing post was published. The tokens are worth over $572,000 now.
Coinbase Insider trading details — an Ethereum wallet started buying $400k worth of tokens about 24hrs before the Coinbase Asset Listing post was published. The tokens are worth over $572,000 now.
NEWS: Coinbase has DFX under consideration for Q2! - DFX finance: Bringing foreign stable coins to the market - 13m DFX in circulation - 8m market cap - Doxxed team - hyper-efficient AMM - Unique bonding curve - Minimized slippage - Optimized capital - Maximal utility -
DFX: Decentralized FX for foreign stablecoins - 13m DFX in circulation - 6m market cap - Doxxed team - hyper-efficient AMM - Unique bonding curve - Minimized slippage - Optimized capital - Maximal utility - Actively pursuing first DEX listing.
DFX.Finance a stablecoin stakng and swapping protocol
Mentions
DFX finance ($3.4M MC) Defi products for stablecoins. Stablecoins are inevitable and DFX offers a nice suite for users to easily interact with
The nine tokens they are talking about are: AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX and KROM. Had to dig through the lawyers arguments to find this.
tldr; The Securities and Exchange Commission has listed nine crypto tokens as unregistered securities. The tokens are AMP, Rally, Rally (RLY), DerivaDEX (DDX), XYO, Rari Governance Token (RGT), LCX, Powerledger (POWR), DFX, and Kromatika (KROM). The first seven are listed on Coinbase for trading. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; The Securities and Exchange Commission has listed nine crypto tokens as unregistered securities. The tokens are AMP, Rally, Rally (RLY), DerivaDEX (DDX), XYO, Rari Governance Token (RGT), LCX, Powerledger (POWR), DFX, and Kromatika (KROM). The first seven are listed on Coinbase for trading. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX and KROM). Not sure if thats what you mean but i read your statement as the reverse
Here are the 9 tokens which the article fails to mention: * AMP * RLY * DDX * XYO * RGT * LCX * POWR * DFX * KROM
>But explain to me how a XRP co-founder cashing out over 3 billion someone selling an asset is not a part of the howey test nor is it relevant. >and people buying expecting the price to increase isn't a security? There is no investment contract because there is no common enterprise. "In order to satisfy the “common enterprise” aspect of the Howey test, federal courts require that there be either “horizontal commonality” or “vertical commonality.” See Revak v. SEC Realty Corp" and ""(discussing horizontal commonality as “the tying of each individual investor’s fortunes to the fortunes of the other investors by the pooling of assets, usually combined with the pro-rata distribution of profits” and two variants of vertical commonality, which focus “on the relationship between the promoter and the body of investors”)" The problem in these cases the SEC is trying to stretch the definition in every way possible hoping something eventually sticks. "The Commission, on the other hand, does not require vertical or horizontal commonality per se, nor does it view a “common enterprise” as a distinct element of the term “investment contract.” -Source https://www.sec.gov/files/dlt-framework.pdf The SEC is choosing to ignore the supreme court because it cant give a detailed explanation nor can they connect what does or doesnt constitute the common enterprise which is required for there to be an investment contract. In the LBRY case they are trying to claim https://pbs.twimg.com/media/FUlgX1rVUAAtow8?format=jpg&name=900x900 Which basically saying, anything that could possibly appreciate and be traded in a secondary market becomes an investment contract. which is insane. In the Ripple case they are arguing that they dont need vertical or horizontal commonality to have an investment contract. Which is also insane and now this recent Wire fraud / Insider trading scandal with (AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, KROM). . They are now stating these are securities A: they dont have the power to do B: In some of the cases they dont have the jurisdiction to take them to court to even determine their status (LCX is based in Lichtenstein not USA) C: They havnt named any of those founders nor companies as defendants, so they cant defend themselves over their status. D: They will use this as grounds and precedent to go after any exchange that listed these tokens in the USA. The SEC is trying Any and every possible way to try and gain power over the Crypto space. and so far thanks to Ripple in part as well as hopefully LBRY, they wont get it. next up to defend the entire space tho is a guy who committed wire fraud and insider trading. He doesnt have the capital to have 9 mini trials to determine the status of each of these assets, nor to defend coinbase (who wont get to defend themselves) He'll most likely take a plea deal with includes him having to admit they are securities and he knew they always have been / were.
With only a quick look and basic understanding this appears to be a good thing for the space as a whole, and in some ways it is. Once you dig deeper tough, the problem is that there are multiple horrible legal precedents that the SEC is trying to sneak into this case which is supposed to only be about the issue of insider trading/wire fraud **Issue #1** The first is that the SEC is stating that 9 Assets are unregistered securities in this case (AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, KROM). The SEC is not just accusing the defendants of breaking the law. The SEC is accusing 10 unrelated, uncharged companies of breaking the law (9 assets and 1 exchange) Not only does the SEC not have the power to this, they dont give detailed legal analysis as to how they came to this conclusion. I posted this yesterday but the SEC is using the same shady tactics it is using in the LBRY and Ripple case in an attempt to regulate by enforcement and expand its power. In order for something to be a security one of the 4 prongs of the howey test is that there is an Investment contract. The supreme court has ruled that there must be a Common Enterprise in order for there to be an investment contract. >"In order to satisfy the “common enterprise” aspect of the Howey test, federal courts require that there be either “horizontal commonality” or “vertical commonality.” See Revak v. SEC Realty Corp" to explain further >"(discussing horizontal commonality as “the tying of each individual investor’s fortunes to the fortunes of the other investors by the pooling of assets, usually combined with the pro-rata distribution of profits” and two variants of vertical commonality, which focus “on the relationship between the promoter and the body of investors”)" and what does the SEC's do with this information? Well in their own words though they have stated that it doesnt matter and are ignoring this requirement. >"The Commission, on the other hand, does not require vertical or horizontal commonality per se, nor does it view a “common enterprise” as a distinct element of the term “investment contract.” -Source https://www.sec.gov/files/dlt-framework.pdf The SEC is choosing to ignore the supreme court because it cant give a detailed explanation nor can they connect what does or doesnt constitute the common enterprise which is required for there to be an investment contract. In fact, One of the assets they listed as a security (LCX) Isnt even founded in the USA, Its from Liechtenstein. This means the SEC has no grounds nor jurisdiction to take LCX to court (which would be required to make it a security) This case is going to end up needing 9 mini trials to determine the status of each of these assets and the defendants/issuers will not get to have their day in court to defend their status because they aren't named defendants by the SEC. **Issue #2** They arent going after the issuers, nor the exchange which apparently traded these "illegal securities offerings" Instead they go after a single person and his family for multiple reasons. 1. The guy is not going to have the capital to fight this because he will have to argue how and why all 9 of these assets failed to register as digital asset security's and how one exchange was operating and unregistered national securities exchange. (not gonna happen) 2. Hes going to therefore have to accept a plea deal and admit to whatever they want (including that these assets are securities and he knew they were the whole time) 3. This case will be used as the legal precedent to start going after exchanges (many of these assets are listed on other exchanges in the US) now exchanges have to either Delist the assets or face possible SEC action against them (we saw what happened when all the US exchanges de-risked by delisting XRP), it is going to cause turmoil, big fucking dips and could prolong a bear market maybe even indefinitely. Since the SEC didnt name any of the exchanges nor issuers of tokens as defendants, they wont be allowed to defend themselves in court. This is regulation by enforcement via a shady backdoor. a Commissioner of the CFTC came out yesterday and released a statement clashing with the SEC and their regulation by enforcement tactics https://www.cftc.gov/PressRoom/SpeechesTestimony/phamstatement072122 to clarify, I'm not trying to pass over/ignore the insider trading or fraud allegations in any way. If the allegations are true, the defendants should be held accountable for their actions/decisions. But we need to & should condemn both the defendants' alleged conduct & the SEC's unjust tactics as well.
TLDR: Coinbase has listed Te Flexa Network’s AMP, Rally Network (RLY), DerivaDEX (DDX), XYO, Rari Governance Token (RGT), and Lichenstein Cryptoasset Exchange (LCX). Others are Power Ledger (POWR), DFX Finance (DFX), and Kromatilka (KROM). SEC believes these to be securities and therefore CB “100% disagrees with the SEC’s decision to file these securities fraud charges".
“The assets were: AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, KROM. They were each mentioned in connection with alleged insider trading.”
There actually alleging 9 other crypto as securities those of which are : AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, KROM.
https://www.sec.gov/litigation/complaints/2022/comp-pr2022-127.pdf >24\. A digital token or crypto asset is a crypto asset security if it meets the definition of a security, which the Securities Act defines to include “investment contract,” i.e., if it constitutes an investment of money, in a common enterprise, with a reasonable expectation of profit derived from the efforts of others. As described in greater detail below, during the relevant period, Ishan provided material, nonpublic information about, and Nikhil and Ramani traded in, **at least nine crypto asset securities that meet this definition**. The SEC says AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, and KROM are all securities.
the SEC is alleging that there were 9 digital assets that are securities, but they dont explain their analysis for even one. They also dont sue/go after the exchange where it was traded or the issuers of the tokens AKA The people with the resources to fight back, they simply went after a guy and his family. This is quite interesting since the 9 assets in question (AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, KROM.) would each require their own smaller trial in order to be considered a security. I find it hilarious that are now focusing on insider trading instead of the exchanges/founding company/teams. this guy is the low hanging fruit.
The SEC has just identified all of these as securities: AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, KROM. Not sure why they aren’t dumping hard but you might want to look into it if you on a large amount of any of them.
I think u missed DFX Finance. U can make some decent api with FX rates. They have usd but also a bunch of foreign currency backed stable coins. Def worth checking out. Also closing in on veDFX 👀
Stablecoin Yields are much higher on DFX.Finance
U know 2; DFX Finance and SatoshiSwap. Both with great utility. Low market cap. Flying under the radar. Relentless developing. Solid team. Etc.
I am also curious to see how the new EUROC stable coin from Circle will be doing. Tried to see where I can get it, but don’t see much options besides BitPanda and DFX Finance. Ones they get more on/off ramps it could grow quickly imo
I see the opportunity for this too but think it is in stables. Starting to see more foreign currency stables like CADC, EURC, etc. along with AMMs like DFX that use LP pools and real time fx feeds to allow for fx without paying bank fees or fx spreads. While I think the ecosystem is still missing the onboard/offboard options we really need, I feel like they are coming - one example os paytrie in Canada which allows people to buy and sell stablecoins for fiat using etransfers in an entirely non-custodial way (there is no exchange and they send stables right to your wallet). We start seeing that replicated in other countries and I think we will start seeing crypto really start displacing remittance systems with their massive fees and delays.
DFX is the micro cap gem that will give 100x 🔥
I don’t usually do Twitter Spaces but this sounds pretty damn interesting. DFX + Circle 🤑
DFX working with Circle is a game changer.
DFX Finance is a great project! Working 🤝with Circle…the guys from USDC and the new EUROC stablecoin. DFX allows u to earn a sustainable yield on stablecoins. Read more in this massive update at medium: https://medium.com/@dfxfinance/dfx-dual-recap-7153e77a5720
I will definitely be tuning in Wednesday, this new EUROC stable will be a game changer. And I’m curious to see how much volume it will bring to the DFX ecosystem.
DFX Finance is a great project! Working 🤝with Circle…the guys from USDC and the new EUROC stablecoin. DFX allows u to earn a sustainable yield on stablecoins. Read more in this massive update at medium: https://medium.com/@dfxfinance/dfx-dual-recap-7153e77a5720
Bought a fat bag of DFX Finance. They have foreign stable coins, like Canadian and New Zeeland dollar for example. Fully 1:1 fiat backed. Endorsed by Allaire; yes the dude from Circle (USDC). And DFX is on that blog from Coinbase for a potential listing in Q2…would be the first decent CEX listing. Think it is gonna blow to 10-20 usd in a heartbeat; only 15m coins in circulation and about ~1500 wallets 🔥🦍
DFX and Telcoin are very interesting
U have all sorts of stable coins, but lets face it. Fiat backed 1:1 like USDC are the best. Gives u a peaceful sleep ✅ DFX Finance brings foreign stable coins to the market that are also backed 1:1 with fiat 🏦 \#DFX Finance is out there with USDC paired CAD, EUR, NZD, XSGD etc. stables. U can provide liquidity and or stake stables against each other...so hardly any chance on impermanent loss when u pair two stable coins.
U have all sorts of stable coins, but lets face it. Fiat backed 1:1 like USDC are the best. Gives u a peaceful sleep ✅ DFX Finance brings foreign stable coins to the market that are also backed 1:1 with fiat 🏦 \#DFX Finance is out there with USDC paired CAD, EUR, NZD, XSGD etc. stables. U can provide liquidity and or stake stables against each other...so hardly any chance on impermanent loss when u pair two stable coins. U can read more about what these guys are building at https://dfx.finance/
U have all sorts of stable coins, but lets face it. Fiat backed 1:1 like USDC are the best. Gives u a peaceful sleep ✅ DFX Finance brings foreign stable coins to the market that are also backed 1:1 with fiat 🏦 \#DFX Finance is out there with USDC paired CAD, EUR, NZD, XSGD etc. stables. U can provide liquidity and or stake stables against each other...so hardly any chance on impermanent loss when u pair two stable coins. U can read more about what these guys are building at https://dfx.finance/
DFX finance is one! Bringing foreign stable coins to the market which u can make a passive income as well. Not a coincidence they are on the Coinbase blog for coins in consideration for a Q2 listing. Def not when u know the founder of Circle endorsed DFX…wink wink…circle and Coinbase = usdc 👌🏻
With DFX finance u can stake stable coins and make a very decent passive income. U can make up to 15-20%, those number are not uncommon. All decentralized. So no KYC or anything like that. Legit project…not a coincidence it is one of the projects listed on that Coinbase blog about coins in consideration to be listed in Q2.
DFX is also the backbone for the Telcoin application for example. Telcoin is into remittance via the blockchain👌🏻
DFX is one of the coins on the recently published Coinbase coins for consideration list. Seeing the list DFX is one of the legit ones compared to some…let’s dat questionable coins on that list. Link to Coinbase blog: https://blog.coinbase.com/increasing-transparency-for-new-asset-listings-on-coinbase-e06f2edb095e
Nice post. DFX is the real deal.
I fully understand u. But think of it like u can make money by trading coins on PancakeSwap. They don’t need to be listed on a CEX to make good money. If that happens it is just a extra bonus so to say. U can find these project in Telegram rooms for example. Not the payed pump and dump rooms. But usually in rooms with other crypto enthousiasts who have no benefit in shilling u x coin. Once u are in that scene u will find the right places to learn about upcoming projects. U have the major rooms which hold AMA’s like Whale Coin Talk, but also more smaller ones more like a friends style as Rebel Traders for example. Or like last week when Coinbase put out that blog with potential listing projects for Q2…u can check those projects. See if they are any good and do some due dillegance. It is hard work actually. I like DFX on that list for example. But I am also in SatoshiSwap. Two solid project u might want to check up on. ✌🏻
Most are shit on that list. But some are not and been in talks for a while. One of them I know of is DFX.
tldr; Coinbase’s list of new tokens being considered for listing on its exchange went live on Monday night. A user who controls an ETH wallet bought six of the tokens mentioned in the list right before it went public. The wallet spent $88,942.48 buying KROM, $80,023.48 on DFX, $72,299.45 on RADAR, $70,635.74 on RAC, and $27,309.96 on PAPER. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
"Over 11 hours, the wallet spent $88,942.48 buying KROM, $80,023.48 on DFX, $72,299.45 on RADAR, $70,635.74 on RAC, $64,864.59 on NDX, and $27,309.96 on PAPER ... On Tuesday afternoon, Kromatika was up 40%, DFX up 42%, DappRadar up 53%, RAC was up 22%, Index up 43%, and Paper up 63%." Yep, dodgy AF.
DFX will explode soon!!..🎉… it’s only warming up….
I think DFX is Charles himself 🧐
#DFX Finance is a nother great place to provide liquidity and stake stables. They only list fiat-backed stablecoins (at the moment)
US. I'll look at DFX thanks for your help
I have moved away from cake, I have some stuff in the freezer for ten years there. Like many others now, I have DFI light wallet on mobile and then send to DFX. You could do it all in DFX now actually. Are you us or eu?
You can withdraw btc, eth or DFI to where you need it. DFX is a DFI offramp (and a cake competitor.)
DFX Finance (DFX) Stable coin pair staking USDC/CADC for 20-30% and not suffer impermanent loss?! This think IS a bank. Expecting DFX to do super well as it is the AMM for Telcoin (rank 100-150) remittances as their app is getting up and running in Q1
Telcoin/DFX remittance of the world are going to change
\- contrarian here: \- BTC is not some kind of magic. it's software, networking and electronics. \- the electronics part concerns me the most. Very vulnerable tech. At the whim of the asic ASIC manufacturers, regulators... A war in Taiwan could kill this tech. No more ASICS made in China with Taiwanese chips ,and BTC dies a slow death... Of course gaming, computing suffers too in this scenario. Why? Let's suppose the new fabs in USA or Europe have more important stuff to do in a war than manufacture chips for mining BTC. In this case I think a good dependable laptop or PC could be worth more than 1 BTC. Also, this scenario is very-very possible in about 10-15 years max. And the whole world would have much bigger worries than transacting BTC. \- second, BTC is not rare. In fact there are tens, hundreds of clones in many ways more advanced technologically. Owning BTC could be some expensive collectible like, owning a Voodoo 5 graphics card; rare, expensive and not working. I own one, it's fun to play Homeworld natively on a 20 years old PC. It seems to me the actual exuberance in the BTC market resembles more the year 1997 for 3DFX. Who would have guessed Nvidia will buy 3DFXs patents? Virtually all the crypto projects have at base the open source code for BTC. BTC showed the direction and not much more. So, owning 1 BTC in the future could be also completely worthless. This is pure speculation a la Jules Verne. 10x for the long read...
Voodoo ? Thats a clever way to lure in old farts like myself who grew up with 3DFX
You can earn some yield on DFX Finance. I guess they are the same people behind Tcad
If you would like to know where to buy DFX Finance, the top exchanges for trading in DFX Finance are currently Sushiswap, and QuickSwap
Bittrex, Kucoin, Latoken, Cakedefi, DFX
I've been on hiatus for a while now and just got back after someone tagged and thanked me for the badges I did. Much appreciated. Glad to see the familiar Redditors still here as well lol. Today I'd also like to share with everyone an AMM I've involved myself with—DFX Finance. It's a DEX primarily focused on USD and non-USD based stablecoins pairs that leverage Chainlink oracles for real-world FX price feeding. FX on the blockchain if you will. It has backing from big name VCs too like Polychain Capital and True Ventures. The team is solid too with members from Paytrie, Consensys, and UMA, AFAIk. That along with VC backing just give me confidence this is a serious project despite how overlooked the project is lol. Maybe in the long term it will be recognized just by merits.
Holding DFX - Dragonfinance10000x
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